Which of the Following Statements Is FALSE

Which of the following statements is FALSE?

A) In recent years, the US investment banking firm of W.R. Hambrecht and Company has attempted to change the IPO process by selling new issues directly to the public using an online auction IPO mechanism called Open IPO.
B) Because of the potential conflict of interest, the underwriter will not make a market in the share after the issue.
C) ASIC requires that companies prepare a prospectus, a document that provides financial and other information about the company to investors, prior to an IPO. Company managers work closely with the underwriters to prepare the prospectus.
D) The lead underwriter is the primary banking firm responsible for managing the deal. The lead underwriter provides most of the advice and arranges for a group of other underwriters, called the syndicate, to help market and sell the issue.